Yellow Card, a Nigerian cryptocurrency platform has launched support for Botswana pula (BWP) and South African rand (ZAR) as it expands to the Southern Africa, a statement to TechMoran confirms.
Yellow Card, already popular in Nigeria, is now adding new currency support and expanding rapidly outside of West Africa to bring cryptocurrency to both the unbanked and the overcharged.
“As of Friday, we will be launching the ability to buy and sell Bitcoin with multiple currencies including Botswana’s BWP and South Africa’s ZAR and expansion to new locations outside of Nigeria, including Botswana where we will be the first and only exchange, and a continued drive to make buying and selling of Bitcoin using cash and bank transfer easy and affordable for all,” said Zoe Nawar, lead PR at Yellow Card.
Founded in 2016 by Chris Maurice and Justin Poiroux with the intent to create a Bitcoin gift card, but in 2018, Yellow Card founders met a man at a Wells Fargo who was trying to send $200 dollars to his family in Nigeria. The bank charged him an unjust fee of $90 and that was the beginning of its pivot.
“We decided to undertake the mission of bringing Bitcoin to Africa with the objective of “financial inclusion for all”, and since then with the help of our partner Munachi Ogueke we’ve taken Nigeria by storm with 20,000+ merchants and over $25 million dollars in transactions,” added Nawar.
Yellow Card will soon become synonymous with cryptocurrency in Africa, as we provide access to people who have previously been left out of the crypto revolution.
Last year, Yellow Card was among the 13 startups that graduated from the Binance Labs Incubation Program which focuses on helping top entrepreneurs achieve product-market fit in the global blockchain landscape.
“For the Binance Labs Incubation Program, we search all over the world for the strongest founders and projects to invest in,” said Ella Zhang, Head of Binance Labs during the incubation program. “We are proud to have found 13 gems in Season II, and to have spent the past 10 weeks working with the BUIDLers to launch their demos and gained early traction.”
The Binance Labs Incubation Program invites in and help entrepreneurs deliver products with clear product-market fit, as well as tangible solutions that provide sustainable growth of the global blockchain ecosystem.
Another Binance-backed project Bundle launched to allows users to request, send and receive cash or crypto from their peers. Users can buy, sell and store digital currencies such as BNB, BTC and ETHas well as deposit/withdraw digital currencies and local fiat currencies; starting with NGN (Nigeria Naira).
According to Yele Bademosi, “We built Bundle with the digitally native African user in mind. They are social, online and connected across geographical boundaries. They prefer their financial services delivered digitally via mobile apps as opposed to visiting brick and mortar bank branches.”